Here are the top 4 features of UPI 2.0, which makes it even more powerful, and robust:
Overdraft Account & Digital Credit
NPCI ( National Payments Corp. of India) has now allowed UPI users to link their overdraft account to their existing UPI accounts. This will help them to use the funds in emergency.Earlier, only saving account holders were able to link their bank accounts with UPI.
Check Invoices Before Making Payments
Often we have ordered something, and the link to pay the amount comes before the invoice is generated. Normally, invoice is generated after the amount has been paid in case of online shopping.But with UPI 2.0, users can first view the invoice, check the particulars, and then make the payment.This can be especially useful in case of online ordering of food.
Block Funds, And Pay Later
In case of ecommerce shopping, cash on delivery is not a new concept. But, that payments can be now made via UPI, without any hiccups. Users can block the funds for a particular purchase on their UPI account, and then make the payment once the product has been delivered.
QR Codes Are Now Available
QR Codes are now available on UPI 2.0. Merchants can now display their QR Codes, and ask users to make the payment via scanning the QR codes.
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